Brokerages Set Rayonier Inc. (NYSE:RYN) Target Price at $33.00

Rayonier Inc. (NYSE:RYN) has earned an average rating of “Hold” from the two brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $33.00.

Several brokerages recently weighed in on RYN. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Truist Financial raised their target price on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th.

Insider Activity at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the transaction, the director now owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rayonier

A number of institutional investors have recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in Rayonier during the 3rd quarter worth about $211,000. International Assets Investment Management LLC boosted its position in Rayonier by 3,118.0% during the 3rd quarter. International Assets Investment Management LLC now owns 16,991 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 16,463 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Rayonier during the 3rd quarter worth about $2,525,000. Allspring Global Investments Holdings LLC boosted its position in Rayonier by 53.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,999 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,047 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Rayonier by 539.9% during the 3rd quarter. Blue Trust Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,042 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Price Performance

Shares of RYN opened at $31.64 on Thursday. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 28.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. Rayonier has a one year low of $24.84 and a one year high of $35.29. The stock’s fifty day moving average is $31.14 and its 200-day moving average is $30.28.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). Rayonier had a net margin of 14.78% and a return on equity of 3.00%. The firm had revenue of $173.60 million for the quarter, compared to the consensus estimate of $218.86 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. Equities analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Rayonier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.285 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.60%. Rayonier’s dividend payout ratio (DPR) is 101.79%.

Rayonier Company Profile

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.